By Missouri Partnership
Missouri, known as the “Show-Me State,” is increasingly showing businesses why it is a prime destination for expansion. With its strategic central location, favorable economic climate, robust infrastructure, and supportive business community, Missouri is making a name for itself as one of North America’s most business-friendly places to grow your business. Here’s why companies should consider expanding into Missouri.
Missouri’s Strategic Location in the Heart of America
Missouri’s central location provides a significant logistical advantage. Positioned in the heart of the U.S., Missouri allows businesses to reach over half of the U.S. population within a day’s drive. This makes it an ideal hub for distribution and logistics operations. Americold, a global leader in temperature-controlled logistics, recently chose Kansas City, Missouri, for its $127 million cold storage facility to support more customers across North America.
Transportation Infrastructure
Missouri boasts a comprehensive transportation network, including:
- Highways: Over 33,000 miles of state highways and 1,380 miles of interstate highways. Plus, the state recently announced plans to expand a 200-mile stretch of Interstate 70 to three lanes.
- Railways: An extensive railway system with over 4,000 miles of tracks. The state is served by every Class 1 rail in the U.S.
- Rivers: The Missouri and Mississippi Rivers provide vital waterways for transporting goods.
- Airports: Two major airports, Lambert-St. Louis International and Kansas City International, alongside numerous regional airports, support both passenger travel and cargo shipment.
Missouri’s Favorable Economic Climate
Competitive Tax Structure
Missouri offers one of the most competitive tax environments in the nation. The state has a low corporate income tax rate and provides numerous tax credits and incentives to businesses, such as:
Missouri Works Program: Provides benefits for companies that create jobs and invest in the state.
Missouri BUILD Program: Assists with infrastructure improvements to support business expansion.
Data Center Incentives: Tailored incentives for data centers, making Missouri an attractive location for tech companies such as Google, who recently invested $1 billion in a new data center in the state.
Affordable Cost of Living
Missouri is one of the top ten least expensive states to live in America. Missouri’s cost of living is significantly lower than the national average. When comparing cost of living to the national average, Missouri falls between 11 percent and 14 percent lower, according to UpNest by Realtor. Lower costs for real estate, utilities, and everyday expenses means businesses can operate more efficiently and employees can enjoy a higher quality of life.
Missouri’s Skilled Workforce
Education and Training
Missouri places a strong emphasis on education and workforce development. The state is home to top-tier universities and colleges, including the University of Missouri System, Washington University in St. Louis, and Saint Louis University. These institutions not only provide a pipeline of skilled graduates, but also collaborate with businesses on research and development projects.
Workforce Development Programs
Missouri is ranked 5th in the U.S. for workforce training. The state offers a range of workforce development initiatives to ensure businesses have access to well-trained employees. Programs such as Missouri One Start provide customized training solutions tailored to the specific needs of businesses, enhancing productivity and growth.
Missouri’s Supportive Business Community
Pro-Business Policies
Missouri’s government is committed to creating a pro-business environment, leading to the state’s recent rankings of #1 for job growth and employment. Efforts to reduce regulatory burdens and streamline business processes make it easier for companies to set up and expand operations in the state.
Collaborative Ecosystem
The state fosters a collaborative business ecosystem, with numerous organizations and networks dedicated to supporting businesses. Groups like Missouri Partnership, the Missouri Department of Economic Development, regional economic developers, and local chambers of commerce provide resources, networking opportunities, and advocacy to help businesses thrive.
Innovation and Entrepreneurship
Missouri is also a hotbed for innovation and entrepreneurship. Cities like St. Louis, Kansas City, Springfield, and Columbia have vibrant startup scenes, supported by incubators, accelerators, and investment networks. This entrepreneurial spirit drives growth and attracts new businesses to the state.
Missouri’s Quality of Life
Diverse and Vibrant Culture
Missouri offers a rich cultural heritage and diverse recreational opportunities. From the bustling urban environments of St. Louis and Kansas City to the scenic beauty of the Ozarks, there is something for everyone. Cultural attractions, professional sports teams, and a variety of dining and entertainment options contribute to a high quality of life.
Affordable and Enjoyable Living
Its affordable housing market, combined with natural beauty and recreational opportunities, make Missouri an attractive place to live and work. The balance of urban amenities and rural charm provides a unique living experience that appeals to a wide range of people.
Missouri’s business-friendly environment, characterized by its strategic location, favorable economic climate, skilled workforce, supportive business community, and high quality of life, makes it an ideal destination for companies looking to expand. Explore the opportunities Missouri has to offer and see why it’s the perfect place for your next business venture.
